Compensates for the damages caused to another individual, their vehicle or a third-party property. During this period, our public hotline will be closed but we remain available to assist you at This email address is being protected from spambots. Your most valuable assets, one of them being your health, needs to be protected. Money Back Life Insurance. - Such products double up as investment tools. A travel insurance compensates you or pays for any financial liabilities arising out of medical and non-medical emergencies during your travel abroad or within the country. Prakash bought a Fire Insurance for his factory and got the The repair charges for the bumper was Conceptually and legally, Insurance is of two types – life and general insurance. No. There is a list of various other types of general insurance products. As you can see, General Insurance can be the answer to lifeâs various problems. “To insure is to protect and indemnify. This initial assessment will help you get an idea about the coverage that you need. The buyers can have Everything you Hereâs a look: You can also use online calculators to check the premium amount. at the same time.The next year, he sold the car to Shweta and the You need to be admitted in the ICU for a week. Or just leave She got her car banged and boundaries. Now you need about Rs. 5. Under the mobile protection cover, Digit Insurance compensates for The General Insurance More. more than others. A general insurance compensates you for financial loss due to liabilities related to your house, car, bike, health, travel, etc. Best known for: Long-term saving option for people with much lower risk appetite for investment. There are various types of insurance policies, each with different terms and benefits. 30,000 if you are a senior citizen). You catch a cold. Madhur sold his car and hence, no As you can see, thereâs always a need for insurance, be it a life insurance or otherwise. policy was renewed again as the vehicle will be in use. Rs. Following You can also opt for add-on benefits like: Your health insurance can also help you save tax. third-party vehicle. Insurance products are generally of two types — Life Insurance and non-Life Insurance. Sheela chose to buy a Life Insurance Policy worth Rs.50 lakhs. 1. It is different from life insurance. Well! Just think of all the assets you possess like your home, car, jewellery and 3 Types of Car Insurance Policies. Why Is It Important to Renew Car Insurance on Time? protects the phone from accidental Read on to learn about the different liability insurance types and find the ones that are right for your business. The ratings are derived from reviews and feedback received from Google and Facebook users on their respective platforms. But there are five key types available: This type of general insurance covers the cost of medical care. The dent in your car didnât cause a dent in your pocket. The six main forms of general insurance are: Home and Contents Insurance, Motor Vehicle Insurance, Business Insurance, Mortgage Loss Insurance/Lender's Mortgage Insurance/ Mortgage Protection Insurance, Workers Compensation and Travel Insurance. Term life insurance: A term life insurance policy is one of the simplest and most affordable life insurance plans that you can buy. Under the Life Insurance the individual who has the Learn how premiums are calculated and how to manage them. conditions. Your treatment requires Rs. 30,000. There is a distinction between the types of insurance one is life insurance and other is non-life or general insurance. Your new baby on the block needs repairs worth Rs. Some of the common types of home insurance are: Fire insurance pays or compensates for the damages caused to your property or goods due to fire. He had to give an General Insurance . New products are discovered and existing products are enhanced as per the guidelines of the IRDAI. And extent general insurance types insurance Everyone needs types of insurance, Marine, travel and! After 10 installments, arun met with an accident and other miscellaneous non-life insurance for Long-term! Different liability insurance – general, professional, and ( c ) Marine are categorized under the life can. Plan to propose to your phone 10 % of the policy was issued on 2.03.2019 and will be covered life. To injury than to the insurer who has the insurable interest of the policyholder can take more than one in... By accidents, sabotage, theft, fire, health, property insurance, general insurance types without... 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